Supply Chain Vendors and Coverage Requirements

Business supply insurance

If your business is supplying other companies with products they need for their operations, you have a big responsibility. Whether you’re a supplier of paper, ink, school supplies, pens and other writing utensils, or desk accessories and furniture like computer desks, filing cabinets and computer chairs, you have to be able to provide efficient service to clients.

If you’re unable to provide your services you run the risk of not only losing business, but also having claims filed against you as well. Supply chain risk management has certainly grown in importance in recent years and continues to grow in importance.

Companies operating in the US are having serious concerns about business continuity and supply chain issues, which is why Business supply insurance helps to provide some relief over such fears. Insurance companies can help to identify supply chain risks, and this is helpful for you in putting together a business continuity plan.

Business interruption is good coverage to have

Getting back to our earlier point, for example, a client might be buying office furniture from you, but if your factory sustains damages, and you can’t currently provide products to that company, they may determine that they can get products from a different supplier. Your BI insurance will at least ensure that you’ll get up and running in less time than if you were uninsured for this loss.

Office equipment and supply stores carry everything most businesses could possibly need for their home or work offices. This includes equipment like printers, copy machines, computers and phones. Risks for an office equipment and supply store include that of crimes like shoplifting and vandalism, the risk of unforeseen events that may wind up causing damage, and injuries that occur in your store which could lead to lawsuits. Cover these and other risks with Business supply insurance.

Office equipment and supply stores have many different risks which will require the need for you to purchase different policies to ensure your company is protected whatever problems come your way. Speak to an agent about business insurance policies based on your expected risks.